These Chinese-made products could soon be hard to find in the U.S.
CBSN
Shipments of Chinese goods to the U.S. are plunging, auguring potential supply-chain disruptions that could empty store shelves as early as this summer, some experts have warned.
As U.S. tariffs of up to 145% on Chinese imports take hold, supplies of a broad range of products could start to dwindle later this summer as back-to-school and holiday spending heat up. Experts warn that the sharp decline in trade activity could lead to COVID-19 pandemic-like shortages of products, including goods assembled in the U.S. or elsewhere that use materials or inputs from China.
Many American retailers rushed to build up their inventories ahead of President Trump's sweeping levies, leading to a recent spike in imports. Imports have since slowed, with a number of retailers foregoing orders on apparel, baby goods and other items that would typically be headed toward U.S. ports.
President Trump ordered the release of 172 million barrels of oil from the United States' Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
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